Loan Comparison: 5.5% vs 6.5%
11712 Lewiston Street, Commerce City, CO 80022 · 5bd/3ba · $540,000
List Price
$540,000
Assumable Rate
5.5%
Remaining Balance
$440,536
Equity Gap
$99,463
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$99,463
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 5.5% + gap loan
$3,008/moAssumed loan: $2,501/mo
Gap financing: $507/mo
$235less per month with the assumable
Your Savings on This Property
11712 Lewiston Street, Commerce City · 5.5% VA vs 6.5% conventional
$235
per month
$2,814
per year
$84,428
over 30 years
$84,427
interest saved
How gap financing works: The equity gap ($99,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($72,463 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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